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Notification of Disposal of Guarantor - EXX

Published: 2022-03-23 14:30:00 ET
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Exxaro Resources Limited (JSE:EXX) News - Notification of Disposal of Guarantor - EXX

EXXARO RESOURCES LIMITED
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
JSE share code: EXX
ISIN: ZAE000084992
ADR code: EXXAY
Bond Code: EXX04
ISIN No: ZAG000160326
Bond Code: EXX05
ISIN No: ZAG000160334
(“Exxaro” or the “Issuer”)

NOTIFICATION OF DISPOSAL OF GUARANTOR

Exxaro has previously announced its intention to dispose of identified assets that were non-core to the
future strategic objectives of its sustainable growth approach. During 2021, Exxaro signed a definitive sale
of shares and settlement of sale claims agreement with Overlooked Colliery Proprietary Limited
(“Overlooked”) whereby Overlooked was to acquire all of the issued shares in and settle certain shareholder
claims against Exxaro Coal Central Proprietary Limited (“ECC”) (“ECC disposal transaction”).

Noteholders are referred to the announcement released on the Stock Exchange News Service of the JSE
Limited (“JSE”) on 3 August 2021 labelled “Confirmation of the regulatory approvals for the disposal of the
equity interest in ECC and Closing Date” regarding the ECC disposal transaction. All of the conditions
precedent to the ECC disposal transaction were fulfilled on 2 August 2021 and the ECC disposal transaction
closed on 31 August 2021.

Following the ECC disposal transaction, ECC is no longer part of the Exxaro Group and as such is no
longer a guarantor under Exxaro ZAR5 billion Domestic Medium Term Note Programme dated 7 June 2019
(“DMTN Programme”).

In accordance with the terms and conditions of the DMTN Programme, the Issuer considered the Guarantee
Ratio (as defined therein) within 30 days after the disposal of ECC as a guarantor and satisfied itself that it
is still compliant with the guarantee ratio.

AT NDONI
GROUP COMPANY SECRETARY

Pretoria
23 March 2022

Debt Sponsor
Absa Bank Limited, acting through its corporate and investment banking division

Date: 23-03-2022 04:30:00
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